Cambridge, UK, 28th November 2024: A new independent report evaluating the economic and scientific impact of the Babraham Research Campus has revealed significant contributions not only to the UK and global life sciences sector, but to the local Cambridge and wider UK economy.
The independent evaluation, carried out between late 2023 and early 2024 by a team headed up by Professor Pete Tyler and Dr Andy Cosh, updates the findings from 2019 and captures a period of transformative progress.
Key findings include:
- Babraham Research Campus is delivering an annual economic contribution of £538 million to the local economy - an 89% increase from 2019.
- Companies based at the Campus now boast a collective valuation exceeding £3.15 billion.
- Job creation has more than doubled, reaching 9,400 positions, including 2,000 located on-site.
- Fundraising by Campus companies is accelerated by 6 months compared to those based elsewhere.
- Ready access to the Babraham Institute’s world-leading infrastructure and skills expertise is mission-critical to the success of the research and innovation campus.
This latest report confirms Babraham Research Campus’ status, not only as an integral part of the economy in Cambridge and the surrounding region, but as a dynamic ecosystem where early-stage companies are nurtured so that innovation can flourish.
Derek Jones, CEO, Babraham Research Campus Ltd, pointed to the evidence of the Campus’ distinct role in fostering growth:
“The report shows that companies at Babraham Research Campus are raising 20% more investment six months faster than those based elsewhere, accelerating their discoveries and creating jobs and economic impact for the UK economy. This isn’t just about numbers; it’s about the ripple effects these successes have on innovation, health outcomes, and economic prosperity. It also reflects the importance of Babraham Research Campus being a ’place‘ with capabilities and community rather than just being a ‘space’ within which to locate.”
The report also underscores the success of Accelerate@Babraham, the Campus’ pre-seed funding and support programme for early-stage life science ventures. Established in 2018, the programme has nurtured 26 companies to date, which together - at the time of the report being compiled - have raised £72.5 million in funding and have a collective market value of £139 million. Since the report, the funding of these companies has reached £100 million. Employing 117 people collectively, these start-ups have achieved a 1.9x return on investment while speeding up their fundraising timelines by 12 months compared to peers outside the programme.
As one of five national research and innovation campuses supported by the UKRI Biotechnology and Biological Sciences Research Council (BBSRC), Babraham Research Campus is designed to benefit from the world-leading research taking place across the region, which includes the Babraham Institute. The institute's co-location with 60 biotech companies is critical to the success of the Campus.
The energy and pay-it-forward mindset of the researchers, entrepreneurs and senior teams based on Campus has created an ecosystem of know-how and experience which makes it an exceptional place to foster talent and create, build and grow a life science business.
Professor Anne Ferguson-Smith, BBSRC Executive Chair, said:
"This evaluation underscores the pivotal role Babraham Research Campus plays not just within the Cambridge life science ecosystem, but across the broader UK and global arenas. We owe a debt of gratitude to Derek and all at Babraham Research Campus Ltd for their unwavering commitment to this venture and the tremendous success they continue to achieve.
“As a beacon of innovation and collaboration, Babraham Research Campus exemplifies BBSRC's commitment to foster environments where scientific inquiry and entrepreneurship intersect with extraordinary results. This report highlights the substantial economic contributions and dynamic growth of those companies on Campus, which pay testament to our sustained investments in cutting-edge research and innovation facilities and expertise across the UK. By nurturing early-stage companies, BBSRC is accelerating groundbreaking discoveries that show tremendous promise in re-defining health outcomes and economic prosperity worldwide."
For further details and to download the full report, visit www.babraham.com/impact-report
